Fairmont Copley Plaza Hotel
Update
12/19/17
Ashkenazy acquires Fairmont Copley Plaza hotel for $163 million
Just days after seller RLJ Lodging Trust's announcement of the sale of the 383-room Fairmont Copley Plaza hotel in the Back Bay, Ashkenazy Acquisition Corporation, owner of the leaseholds for South Station and Faneuil Hall, has closed on the hotel's acquisition for $163 million. The sale amounts to over $425,000 per key; the selling party acquired the hotel in August 2010 for $98.5 million, approximately $257,180 per key. Deutsche Bank provided $95 million in mortgage financing towards Ashkenazy's acquisition. The Fairmont Copley Plaza hotel features amenities such as a restaurant, OAK Long Bar + Kitchen, and 3,000-square-foot rooftop health club. Ashkenazy acquired the 98-year leasehold interest on the 205,165-square-foot office and retail component of Boston's South Station from longtime owner Equity Office Management for $119 million last August and has owned the Faneuil Hall long-term leasehold since 2011.
